March 9, 2012
Igniting The Economy
America’s economy is lying idle and today’s job numbers only underscore that. Just 227,000 jobs were added in February 2012, which pundits will certainly celebrate as positive growth. However, when you consider that more than half of those jobs must be added simply to maintain the status quo, the true gain hardly moves our nation in the right direction when more than 12 million Americans are out of work.
Moreover, the reality of today’s economy is even bleaker than February’s stagnant unemployment rate of 8.3 percent implies. America’s unemployment rate – which includes those individuals who have simply given up looking for work – is real at 9.9 percent and underemployment has hit almost 20 percent. Moreover, since Obama’s stimulus passed three years ago, 2.6 million Americans have slipped into poverty – the highest number in the 52 years that the census bureau has published such information.
Washington has tried to treat the symptoms of a down economy with bailouts and handouts, but to no avail – the unemployment rate has failed to wane, the national debt has skyrocketed, and America’s competitiveness has collapsed. We can’t put another Band-Aid on our economy. Instead, we must work to fix the elements of our business environment that are broken, beginning with the corporate tax structure.
The last comprehensive corporate tax reform package was developed before the iPad, smart phones, debit cards, and even DVD’s. At 35 percent, America’s federal tax rate will – in a matter of weeks – become the highest in the world. Moreover, the average rate for OECD nations is 25.5 percent – 10 points below the U.S. rate.
President, Americans for Job Security
Read more: RedState.com